PN Gadgil Jewellers IPO: Day 4 Update on GMP, Subscription Status, and Investment Insights
the much-anticipated allotment of shares for the PN Gadgil Jewellers IPO is set to be finalized. Investors are eagerly awaiting news on whether they will receive shares from this highly subscribed public offering. The IPO, which opened for bidding from September 10 to September 12, has garnered significant attention, with a subscription rate of 59.41 times. This strong interest reflects the confidence investors have in the company’s growth prospects and market position.
Main Points
PN Gadgil Jewellers IPO Subscription Status and Investor Interest
The PN Gadgil Jewellers IPO was a book-building issue aimed at raising ₹1,100 crore. The issue price was set between ₹456 and ₹480 per share, with a minimum lot size of 31 shares. The response from investors was overwhelming. The Qualified Institutional Buyers (QIBs) led the charge, subscribing a staggering 136.85 times their allotted quota. Non-Institutional Investors (NIIs) followed suit with a subscription rate of 56.09 times, while Retail Individual Investors (RIIs) subscribed 16.58 times, indicating a broad-based interest across various investor categories.
The total number of bids received was approximately 1,00,31,53,273 for the 1,68,85,964 shares available. This level of demand highlights not only the brand’s reputation but also the strategic positioning of PN Gadgil Jewellers in the Indian jewellery market, where it stands as one of the leading players.
Grey Market Premium (GMP)
As of today, the Grey Market Premium (GMP) for PN Gadgil Jewellers shares is reported at ₹333, which translates to a remarkable 69.38% premium over the upper band of the IPO price. This indicates a strong likelihood of a positive listing on the stock exchanges, with expectations suggesting that shares could debut around ₹813 on September 17, 2024. Such a premium is a positive signal for investors, suggesting high demand and confidence in the stock’s performance post-listing.
Company Overview and Financial Performance
PN Gadgil Jewellers, established in Pune, has made significant strides in the Indian jewellery sector. The company operates a wide range of jewellery products, including gold, silver, platinum, and diamond pieces, catering to various price points and customer preferences. As of December 2023, the company had expanded to 33 stores, including a presence in the United States, and has plans for further expansion with the proceeds from this IPO.
Financially, the company has shown robust growth. In FY23, its revenue from operations surged by 76% year-on-year to ₹4,507 crore, and the profit after tax rose by 35% to ₹94 crore. For the year ending March 2024, the revenue is projected to reach ₹6,110 crore, with a PAT of ₹154 crore. This growth trajectory, combined with a 56.5% increase in EBITDA over the past two financial years, positions PN Gadgil Jewellers favourably within the competitive landscape of the jewellery market.
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PN Gadgil Jewellers IPO How to Check Allotment Status
For those who participated in the IPO, checking the allotment status is straightforward. Investors can visit the official websites of the Bombay Stock Exchange (BSE) or the registrar, Bigshare Services. Here’s a quick guide on how to check your allotment status:
- BSE Website:
- Visit the BSE IPO allotment page.
- Select ‘Equity’ under the issue type.
- Choose ‘PN Gadgil Jewellers’ from the dropdown menu.
- Enter your application number or PAN.
- Complete the captcha and click ‘Search’.
- Bigshare Services:
- Go to the Bigshare Services website.
- Select ‘PN Gadgil Jewellers’ from the list.
- Choose your identifier (Application Number, Beneficiary ID, or PAN).
- Enter the required details and complete the captcha.
- Click ‘Search’ to view your allotment status.
PN Gadgil Jewellers IPO Investment Insights: Buy or Not?
Given the robust subscription rates and the impressive GMP, many analysts are optimistic about the potential of PN Gadgil Jewellers as a long-term investment. Brokerage firms have generally recommended subscribing to the IPO, citing the company’s strong market presence, experienced management, and solid financial performance. However, investors should also consider potential risks, such as fluctuations in gold prices and the company’s geographic concentration in Western India.
While the excitement around the IPO is palpable, it’s crucial for investors to conduct thorough research and consider their financial goals before making any investment decisions. The upcoming listing on September 17 will be a key event to watch, as it will provide insights into how the market perceives PN Gadgil Jewellers post-IPO
